Singapore, November 18, 2025 – India’s Reliance Industries Ltd (RELI.NS) has purchased 1 million barrels of crude oil from Kuwait Petroleum Corporation (KPC) via a tender, according to four trade sources familiar with the transaction. The deal marks a strategic addition to Reliance’s refining portfolio amid shifting global supply dynamics.

The sale follows a tender issued by KPC last week to offload crude oil that the Al-Zour refinery could not process due to unplanned maintenance caused by a recent fire.

Details of the Crude Oil Shipment

The contract comprises two separate cargoes:

• 500,000 barrels of Kuwait Heavy Crude scheduled for loading between December 6 and December 7, 2025
• 500,000 barrels of Eocene crude scheduled for loading between December 8 and December 9, 2025

The purchase prices for these cargoes have not been disclosed.

Strategic Context for Reliance

Reliance Industries recently ceased purchases of Russian crude following sanctions imposed on Russian producers Rosneft and Lukoil by the United States. Since then, the Indian refiner has increasingly sourced crude from the Middle East and the Americas, having acquired at least 12 million barrels of spot crude globally.

This latest procurement from Kuwait strengthens Reliance’s feedstock supply for its refineries, ensuring continuity of operations and meeting India’s growing energy demand. Analysts note that Reliance’s diversification of crude supply sources reflects both geopolitical considerations and the company’s strategic focus on energy security.

Impact on Global Oil Trade

The deal underscores Kuwait’s role as a major crude exporter to Asia and highlights ongoing trade relationships between Middle Eastern oil producers and Indian refiners. With India emerging as one of the world’s largest crude importers, such transactions are key indicators of regional energy flows and market stability.

Reliance’s purchase also reflects broader trends in the global oil market, where refiners are increasingly navigating geopolitical risks, refining disruptions, and fluctuating supply-demand dynamics to secure competitive crude supplies.